Tag Archives: moving

Avoid Foreclosure – AND the Tax Man

stop-foreclosure1Have you ever wondered why some foreclosures sit on the market for what seems like forever and others are foreclosed on right away? The homeowner who has diligently paid their mortgage on time year after year and have built up equity in their home are foreclosed on first! The bank sees the value and plans to make back their money AND get your equity when they auction off your home.

Other homeowners who have little or no equity are allowed to remain in the home without payment sometimes for years!  Banks know they will reduce the incidences of vandalism and have someone who may keep up the home for free if they are allowed to remain.  It also allows the market to appreciate over that time so that a future sale will be more profitable for the bank.

Then, if that’s not enough, the IRS will charge you income tax on the loan amount

tax man in the form of a 1099 Miscellaneous. Your foreclosed loan is taxed as earned income in that single tax year!

Unfortunately sellers lose their home and their equity to banks all the time and then have the double jeopardy of having to pay an additional tax in already distressed situation.

You have options the bank doesn’t want you to know about.  I can help. Call me or go online here and answer a few questions, and I’ll work with you to get what you want for your home and get you moving forward again. I am a REALTOR®, but this is not about listing your home for sale.  I am also an investor and this is about getting you what you want for your house, helping you prevent foreclosure and the taxman. Don’t wait until you’re more than two to three months behind.  Then, it’s much harder to help you get what you want for your house.

cbs isaPlease call me as soon as you know you can’t make your payment.  I’ll ask a few confidential questions by phone to see if my team and I can help, and schedule a visit to see your property.  Call or email me today.  Click this link to see the questions.  My team and I can help you prevent foreclosure, the taxman and get you moving forward.

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Here’s a testimonial from a loyal fan:

‘Chrystal, your experience and professionalism helped me prevail through difficult times in the listing and sale of my long-time family home.

From creating professional marketing materials including onsite brochures, online photo tour, and email blasts, promotion of my listing through TwitterFacebookLinkedIn and YouTube.com, to showing the house 6 of the 24 times it was shown, you were on the job.

After the property was under contract, your previous experience and successful resolution of similar problems discovered during the home inspections helped me work through a difficult transaction that included a breakdown in communications, unexpected property conditions and lender required repairs, and keeping the buyer on track with lending requirements and in love with the house until closing.

I couldn’t have done it without you.  It’s my pleasure to recommend your real estate services to everyone I know.’

Tony Sweatt, Fort Mill, South Carolina

Real Estate 101

As MASTERS Designation holder, representing specialties in New Construction, Finance, Marketing, Objection Handling, Relocation, and Technology, I can help you navigate the home buying and selling strategies in today’s unique market and strengthen the bottom line performance of your transaction.

Many REALTORS® will not meet with you until you have signed an agency relationship contract and have a pre-approval from a lender.  I understand that each and every introduction of myself as real estate broker/REALTOR® is a mini job interview.  Before I can be hired, we both need to know if I am a good fit for your objectives.  To complete that process, I provide what I call Real Estate 101. 

I meet with you by phone or at my office to discuss your big picture, to get an idea of your time line and ultimate goals. If you are a prospective seller, I visit your home to discuss the details of the market specific to your neighborhood and inspect your property. 

If you are a prospective buyer, I meet with you at my office to begin an introductory tour of the city, including highlights of the city and Greater Charlotte Area, especially neighborhoods important to you.

If we both decide I am a good fit for your mission, the next time we meet will be over that agency relationship contract and pre-approval letter from your lender.

Contact me to discuss your big picture, including:

  • Time line to sell or purchase
  • Priorities regarding seller’s net performance and move date
  • Priorities regarding buyer’s housing type, price range or special needs
  • Guidelines you desire for communities, schools, shopping, location, lifestyle, family needs

If you’re in, or thinking of relocating to or away from, the Greater Charlotte area, contact me for Real Estate 101 at Chrystal.Safari@gmail.com

Complimentary Initial Consultation
Limited to 1 hour

 

Consistent     Reliable     Loyal

 

 

 

 

Buyer’s Agent New Construction Closing Checklist

Closing Checklist as Buyer’s Agent

 

New Construction

Once you are under contract with a new home builder, there are many behind-the-scenes activities that are necessary to progress seamlessly from contract to close. 

Following is a list of items your REALTOR® should oversee.  Problems will arise.  To avoid unnecessary delays, let your REALTOR® know immediately when a problem occurs.  Always let your REALTOR® know all builder scheduled appointments as soon as they are set so your REALTOR® can attend.

 

  •            Get copies of finalized contract to buyers and lender
  •  ð       Follow loan process with loan officer from beginning to end
  •  ð       Ask lender what is needed from buyer
  •  ð       Accompany buyer to design center/location for color and materials selection
  •  ð       Attend pre-construction meeting with buyer
  •  ð       Set up pre-dry wall inspection with independent home inspector
  •  ð       Get update from lender – any needs outstanding from buyer
  •  ð       Get update from closing coordinator regarding closing with attorney
  •  ð       Inform buyers of time and date for closing
  •  ð       Have buyer check into and set up home owner’s insurance
  •       Clarify if survey (showing building on site) will be provided
  •  ð       Get update from lender
  •       Arrange home inspection prior to pre-closing walk –  utilities on, all appliances installed
  •  ð       Get repair request list to construction supervisor
  •  ð       Review HUD statement with buyers
  •  ð       Make sure buyers have driver’s licenses and certified check made out to attorney
  •  ð       Final walk to check on repairs the day of closing

 ð       Enjoy closing!

Avoid the sticker shock of a new or move up purchase

LANDLADY LEAD… Whether you are a renter, investor, or move up buyer, you can Avoid the Sticker Shock that has no doubt contributed to many foreclosure scenarios.  Put away the amount of money each month that is the difference between what you now pay for rent or mortgage.  For example, if you now pay $1,000 per month rent/mortgage, but expect to move up to $2,000 rent or mortgage, put away the additional $1,000 per month needed for 6 months.  If you never have to touch that money in 6 months, you will likely have little problems with paying for your new home.  Same works if you think you might need a new car.  Stash away that new car payment, and if it’s untouched for 6 months…you’ll have a great down payment!

The Unusual Suspects

A real estate broker must always be aware of personal safety, and the safety of clients, whether meeting new clients for the first time, while showing properties, driving to home tours, installing roadside signage, and on site at new construction.

The simplest tasks must constantly be evaluated and strategized to ensure utmost safety for all, but no class, lesson, or quick thinking could have prepared me for this.

While out with clients touring new home communities in Union County yesterday, we stopped into the builder’s agent-on-duty model home, and quickly on to the model next door with the preferred floor plan.  After getting the key and walking through an inventory home just down the street, we returned to the model home to see the sales agent.

As we were sharing our feedback on the house under construction, I noticed a sudden cough getting embarrassingly worse.  I started to make my apologies, explaining to the sales agent that I didn’t know what had happened, but it must have been the new construction dust that had triggered this worsening episode.

In mid-sentence, he stopped me.  He said, “I know what happened to you.”  He continued that 3 hours prior, he had accidentally set off pepper spray in his office…by this time, my lungs were burning, my chest was hurting, I felt a warm flush throughout my body and broke into a head-to-toe sweat! 

Continuing to cough to clear my airway, my client, a medical professional, became concerned, explaining that she could see my eyes and face swelling.  We said a quick goodbye and left.  I continued to cough terribly, and by this time had a headache. 

When we arrived at the next new home community minutes down the road, I realized that water might help clear my throat.  I was beginning to lose my voice.  It took several cups of water to relieve my throat symptoms, and after two hours I was no longer coughing, but had a headache until the next morning.

 Thank goodness he had not just sprayed that mace!  I can’t image my reaction if it had been recently sprayed, or worse yet, sprayed on me.  I don’t know how my client and the sales agent managed to avoid a reaction, but apparently I would make an excellent mine canary!

But let this be a lesson to you.  No matter how bored you are, sitting at work in your office with nothing to do, do not test your mace can.  Trust me, it works.